Nationwide house price index: UK housing supply at its lowest level since 1970s November 27, 2015 Annual house price growth slowed to a five-month low in November – despite the number of available homes on the market falling to a level not seen since the 1970s. Nationwide's house price index showed house prices increased 0.1 per cent in November, meaning the annual growth rate fell from 3.9 per cent a month earlier to 3.7 per cent. [...]
CBI services sector survey: confident firms are ramping up investment plans despite slowdown in growth November 27, 2015 The UK’s service sector, which makes up around 80 per cent of the economy, is in fine fettle, according to new survey figures published this morning, with a record number planning to invest in new technology. The service sector survey from the Confederation of British Industry showed that business volumes in consumer services – hotels, [...]
Consumer confidence edges down from sky-high levels November 27, 2015 Consumer confidence has come off the boil, according to survey figures released this morning, but remains at historically high levels. The consumer confidence index produced by pollsters YouGov and the Centre for Economics and Business Research (CEBR) dropped to a score of 113.6 this month – its lowest since June this year. A separate index produced [...]
UK house prices: First-time buyer market cools in the run-up to Christmas November 27, 2015 Britain first-time buyer market has cooled over the last three months following this summer’s record number of sales, new research shows. New buyers completed 28,100 sales in October, which was down 8.5 per cent compared with July’s eight year high of 30,700, according to figures released today by estate agents Your Move & Reeds Rains. [...]
Blame it on the rain: bad weather can mean bad news for £8.7bn of grocery market November 26, 2015 It turns out there is actually some science behind retailers complaining about the British weather. A new report released today by The Weather Channel took a look at the relationship in the UK and found some evidence supporting the theory that bad climate means bad business, with 6p for every £1 spent in the grocery sector dependent upon [...]
Osborne’s dreams of new affordable housing could crumble if the construction sector cannot recruit at least a million more workers November 26, 2015 The construction industry will need to recruit at least a million more workers over the next five years if George Osborne’s hopes of new homes are to be realised. According to specialist recruiter Randstad CPE, the UK housebuilding sector needs a workforce of nearly 2m to keep up with housing demands. Owen Goodhead, managing director [...]
Eurozone money supply hits second-fastest growth rate since 2009 in October November 26, 2015 The Eurozone’s money supply grew at its second fastest rate since 2009 in October, according to figures released today by the European Central Bank (ECB). Lending to the private sector expanded at its joint quickest rate since 2012. The Eurozone’s M3 money supply, which adds up the notes, coins and bank deposits held by Eurozone consumers [...]
FTSE 100 rises despite housebuilders’ fears over new tax – London Report November 26, 2015 George Osborne’s announcement yesterday that he plans to raise property tax for those who buy a house in order to rent it and on second homes curtailed hefty gains made by housebuilders. However, in general, investors signalled their approval of the chancellor’s Autumn Statement, with the blue-chip FTSE 100 index finishing one per cent higher [...]
Autumn Statement 2015: Fiscal watchdog spares Osborne’s blushes November 25, 2015 The government's fiscal watchdog gave chancellor George Osborne a huge boost yesterday, allowing him to escape the tax credits fiasco without it getting in the way of his plans to cut borrowing. Government borrowing looked like it was going to overshoot the £69.5bn target in the 12 months ending March and many believed Osborne would be [...]
Black Friday 2015 is about more than just John Lewis, Tesco, and Amazon: Small businesses getting in on the shopping frenzy through eBay November 25, 2015 Brace yourselves: there are now less than 48 hours to go until the year’s biggest shopping frenzy hits, with UK shoppers predicted to part with a record-smashing £1bn this Black Friday. Retail giants like John Lewis, Asda, Tesco and Amazon may be reaping the biggest rewards from the massive Black Friday sales spike – but [...]